Banking Executive Accountability Regime (BEAR)

The purpose of this course is to raise awareness of the new regulations in Australia, known as the Banking Executive Accountability Regime (BEAR). The training seeks to inform participants of their responsibilities under the new regime to ensure that banking practices are aligned with expectations.

Summary

In 2018, following years of scandal in the Australian financial sector, a government-backed inquiry (known as the Royal Commission) was conducted to investigate instances of misconduct. From the results of the Royal Commission, the Australian government developed a better understanding of the weaknesses in the financial sector. The Banking Executive Accountability Regime (BEAR) was implemented to help address some of these weaknesses.

The topics covered in the course include:

Introduction to BEAR

Regulatory Requirements

Accountability Obligations

Key Personnel Obligations

Remuneration Obligations

Notification Obligations

Consequences of Breach

Preparing for BEAR

Regulations in Other Jurisdictions

Like with all our courses, the (BEAR) training courses are written by experts and powered by world-leading regulatory intelligence, which tracks more than 900 regulators and exchanges globally to ensure the course content is always up to date.

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